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At a time when the legitimacy of the World Bank as a development institution is at stake, countries from around the world are in the process of recruiting the new president of the institution. Any member of the World Bank can put forward a candidate. But since its founding, there has been a gentlemen’s agreement where the United States and its European allies work behind closed doors to ensure a U.S. citizen leads the World Bank, in exchange for the European leadership of the International Monetary Fund. The White House put forward David Malpass — a long-time critic of multilateralism — as its nominee for the institution’s next president, while Lebanon just put a new name on the table, Ziad Hayek, the only known challenger so far to Trump’s nominee. Challenge a failed model The leadership ...